How Your Property Tax is Calculated

Dated: 01/03/2020

Views: 1382

A common misconception is that if your BC Assessment goes up, your property tax will ALSO go up. This isn't accurate. Your taxes increase when your elected officials increase their budget. This budget increase is distributed based on your assessed value. If everyone's value increases similarly (typical) you will see no tax increase UNLESS your council elects to increase their budget (as is the case in Nanaimo). It should also be noted that your BC Assessment is NOT a good indicator of your home's value and should never be relied upon for financial decision making.

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John Cooper

We are passionate about the rare kind of lifestyle available here on Vancouver Island; one that is affordable, inspiring, and surrounded by spectacular natural beauty. John Cooper, P.R.E.C. - Team Le....

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